Retirement Reconsidered
F&G’s second annual retirement survey revealed that Americans over 50 are continuing to delay or come out of retirement. This year, more pre-retirees are pushing back retirement compared to 2023 – especially when it comes to Generation X1,2.
More pre-retirees are thinking of pushing back their retirement
Just over half
of pre-retired and retired Americans are considering delaying or coming out of their retirement.
51%
33% of US retirees or former retirees have returned or are considering returning to work
68% of pre-retirees are considering or have taken action to delay retirement, an increase over 64% in 2023.
Reasons vary, from financial to personal fulfillment
While inflation continues to drive retirement decisions, respondents also consider the challenge and fulfillment they get from their jobs.
worried about inflation
love what they do for work
like the intellectual stimulation they get from working
Pre-retirees
Reasons for reconsidering retirement
Retirees
Reasons for reconsidering retirement
Generation X increasingly considering delaying retirement
Generation X respondents showed a significant increase in considering delaying retirement.2
Their reasons included:
49%
worried about not having enough money for retirement
47%
worried about inflation
42%
want a larger financial safety net
31%
worried about recession or stock market downturn
This remains a challenging macroeconomic environment to navigate for those close to or in retirement. As our survey shows, Americans are still reconsidering what retirement means to them, and that may look different from previous generations. We believe taking a proactive approach in financial planning can help mitigate some of the economic risks, allowing people to focus on their own personalized roadmap of how and when to retire.” -Chris Blunt, Chief Executive Officer, F&G
Americans seek advice to navigate retirement
Unretiring or delaying retirement is a big decision, and survey respondents recognized the need for advice.
71% reported seeking advice on their retirement options
57% consulted their spouse
16% consulted a financial professional
A trusted financial professional can help people navigate the choices and challenges of retirement planning.
Find a financial professional
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1To qualify for the survey, respondents had to be age 50+, have sole or shared financial decision-making responsibility for their household, and own financial products valued at $10,000 or more.
2Generation X survey respondents are ages 50-59
Survey Methodology
This survey was conducted online by Directions Research, independently recognized as one of the nation's leading business decision insight firms. The survey was fielded from May 1 to May 16, 2024, among a nationally representative sample of 2,048 U.S. adults. Respondents were targeted to Americans Ages 50+, who are financial decision-makers, that have $100K+ in financial products/savings.
About F&G
F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa. For more information, please visit fglife.com.
"F&G" is the marketing name for Fidelity & Guaranty Life Insurance Company issuing insurance in the United States outside of New York. Life insurance and annuities issued by Fidelity & Guaranty Life Insurance Company, Des Moines, IA.
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